Cloud Computing – TO BE OR NOT TO BE SECURE!

As cloud computing popularity soared through 2011 and is continuing to gain momentum in 2012, will last year be remembered as the year of the Cloud or the year cyber-attackers jumped for joy!

Businesses are having to be concerned with Cloud service software being misconfigured and that employees can be careless with data (humans and machines do not always mingle well!!) however, the largest threat and source of fear comes from cyber-attackers…. So what can you do to protect your business and your clients’ data?

Cyber insurance can be a very valuable tool for Cloud customers who are not able to get their providers to take financial responsibility for security and privacy risk contractually. The correct cyber insurance policy should cover data security and privacy breaches of not only the computer networks directly under the control of the insured client, but also those computer networks operated by third parties for or on behalf of the insured client. What this means in the Cloud context is that cyber insurance may cover data breaches of the Cloud provider’s systems where the Cloud customer’s/insured’s data is stored and processed on those systems. Therefore, if a Cloud customer cannot get reasonable contract terms from its Cloud provider and assuming the correct cyber coverage has been purchased, it will have a fall-back risk transfer and will not be retaining that risk solely on its own.

For help and advice about Cyber insurance please contact Ben Butler on 0118 9165481, or complete one of our enquiry forms.

Author: Adam Lawrence | February 20th, 2012

Contact the author

Adam Lawrence
Get in touch:   Reading: 0118 916 5480   London: 020 7036 8767